When you are with Valleyfield, we will ensure that you are kept up to date with all
the changes as they happen and how they may affect you to ensure you are completely
compliant with HMRC and our claiming everything you should be.

As we receive updates, these will be posted on the ‘Bulletin Board’ and if we feel
that the change impacts you, we will let you know. You can also give us a call to
discuss

Making Tax Digital

From 2019, the government’s plans to make it easier for individuals and businesses
to get their tax right and keep on top of their affairs by requiring them to keep
digital records and send HMRC quarterly updates will be implemented.

Every individual and business now has access to their own personalised digital tax
account and these are being regularly expanded and improved. The benefits to this
are:

All small business customers will have individual digital tax accounts and will be
able to see the information that HMRC holds about them and check at any time that
the information held is correct.

Customers will be able to see information provided by other bodies e.g. from employers
or other government departments so they don't duplicate the information provided

Customers will know exactly where they stand with their tax bill so they get no unwanted
surprises

UK families will soon see bills cut as date announced for the launch of Tax-Free
Childcare

Millions of parents can pre-register from today for the government’s new childcare
offers, with the launch of a new Childcare Choices government website.

The introduction of the government’s Tax-Free Childcare scheme will begin on 28 April,
for parents of the youngest children. It will be gradually rolled out over 2017 –
cutting childcare costs for working families across the UK by up to £2,000 per child
per year, or £4,000 for disabled children. On top of this, from September this year
parents of three and four year old children living in England will be able to apply
for a new 30 hours free childcare offer, worth around £5,000 per child

Marriage Allowance

Marriage Allowance lets you transfer £1,100 of your Personal Allowance to your husband,
wife or civil partner - if they earn more than you. This reduces their tax by up
to £220 in the tax year (6 April to 5 April the next year). To benefit as a couple,
you (as the lower earner) must have an income of £11,000 or less. You can calculate
how much tax you’ll pay as a couple.

You can get Marriage Allowance if all the following apply:

you’re married or in a civil partnership

you don’t earn anything or your income is under £11,000

your partner’s income is between £11,001 and £43,000

You can still apply for Marriage Allowance if you or your partner are: currently
receiving a pension or live abroad - as long as you get a Personal Allowance.

If you or your partner were born before 6 April 1935, you might benefit more as a
couple by applying for Married Couple’s Allowance instead.

Call us on 0151 448 0222 to discuss any of the issues arising on the Bulletin Board